Last week Eric Cantor lost an election and Boeing Company stock lost almost 5% in value. What do they have in common?
This is from my June newsletter (Goss Eggs section). "Once again Congressional Democrats and Republicans are bonding to advance bailouts for some of the nation’s biggest corporations (especially Boeing). This time it is funding for the Depression era relic, the Export-Import bank.
The bank hands out loans, capital and credit insurance to support U.S. firm’s sales abroad. Last year, the bank’s authorizations exceeded $27 billion. Why should the U.S. taxpayers guarantee loans that private lenders reject?" Ernie Goss